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How U.S. Bancorp (USB) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 07/16/2026
U.S. Bancorp is an American multinational banking institution headquartered in Minneapolis, Minnesota, and incorporated in Delaware. · Wikipedia
More about the company
It is the 7th-largest bank in the United States as of March 2026. As the largest bank in the Midwestern United States, it is considered a domestic systemically important bank (D-SIB) by the Federal Reserve. It is the parent company of its primary operating entity, U.S. Bank National Association, which does business as U.S. Bank. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions.
Key growth driver: Noninterest Income — the fastest-growing revenue line: $3,325, +14% y/y. · by the Q2 2026 report
How does U.S. Bancorp make money?
U.S. Bancorp brought in $7.71 billion of revenue in Q2 2026, up 10.1% year over year. The largest source was Net Interest Income: $4.36 billion, or 57% of the total, followed by Noninterest Income ($3.33B, 43%). Net income for the quarter was $2.18 billion, up 19.9% year over year.
Revenue by source, Q2 2026
- Net Interest Income$4.36B · 57% · +7.7%
- Noninterest Income$3.33B · 43% · +13.7%
Shares of $7.71B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is USB’s next earnings date?
Thursday, October 15, 2026confirmed · before market open
U.S. Bancorp (USB) is scheduled to report results for the quarter ending Sep 2026 on Oct 15, 2026. Consensus EPS forecast: $1.33 (9 analysts), vs $1.22 in the same quarter last year.
What time does USB report? Usually before market open: the last 4 results releases reached the SEC at 6:59 am, 6:47 am, 6:49 am, 6:49 am ET.
Last report: Jul 16, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$7,712
+10.1%
Net income
$2,177
+19.9%
EPS diluted $1.35 · +21.6%
Verdict: A strong quarter for U.S. Bancorp — net income jumped 19.9% to $2.18B as net interest income grew on loan growth and repricing while noninterest income surged on the BTIG acquisition and broad fee strength, partially offset by higher expenses and credit provisions tied to loan growth.
Returned $1.0B to shareholders via dividends and buybacks in Q2; CET1 ratio 10.8%; average diluted EPS $1.35 (+21.6%); allowance for credit losses $8.0B (1.94% of loans).
Source and notation
* marks non-cash / ≈ estimated. Source: U.S. Bancorp press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
USB earnings history: past report dates
| Jul 16, 2026 Thu | 6:59 ambefore market open | Jun 30, 2026 | $7.7B+10% y/y | $1.35+22% y/y |
| Apr 16, 2026 Thu | 6:47 ambefore market open | Mar 31, 2026 | $7.3B+5% y/y | $1.18+15% y/y |
| Jan 20, 2026 Tue | 6:49 ambefore market open | Dec 31, 2025 | ≈$7.4B+5% y/y | ≈$1.26+25% y/y |
| Oct 16, 2025 Thu | 6:49 ambefore market open | Sep 30, 2025 | $7.3B+7% y/y | $1.22+18% y/y |
| Jul 17, 2025 Thu | 6:49 ambefore market open | Jun 30, 2025 | $7.0B+2% y/y | $1.11+14% y/y |
| Apr 16, 2025 Wed | 6:48 ambefore market open | Mar 31, 2025 | $7.0B+4% y/y | $1.03+32% y/y |
| Jan 16, 2025 Thu | 6:48 ambefore market open | Dec 31, 2024 | ≈$7.0B+4% y/y | ≈$1.01+110% y/y |
| Oct 16, 2024 Wed | 6:48 ambefore market open | Sep 30, 2024 | $6.9B−2% y/y | $1.03+13% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
U.S. Bancorp: 5-year financials
| 2025 | 28,656 | 7,570 | 3,168 |
| 2024 | 27,455 | 6,299 | 3,092 |
| 2023 | 28,144 | 5,429 | 2,970 |
| 2022 | 24,302 | 5,825 | 2,776 |
| 2021 | — | 7,963 | 2,579 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 20262025 Annual Report (part of the 10-K): "Litigation and Regulatory Matters" covers suits against the bank as RMBS trustee and regulatory examinations; no shareholder suits. sec.gov ↗
- Jan 2026Shares outstanding of 1,553.7M vs. 1,502.1M in January 2021 (+3.4%). data.sec.gov ↗
- Dec 2025Dividend per share rose from $1.68 (2020) to $2.04 (2025). data.sec.gov ↗
- Feb 202610-K cover: a single class of common stock; the rest are depositary shares of non-cumulative preferred series. sec.gov ↗
Scoring: 2.0, no deductions: single class of common stock (preferreds are a standard bank capital instrument), share count +3% over 5 years (Union Bank deal), dividend rising, no shareholder suits or SEC disclosure cases = 2.0
- Share classes
- Single class of common stock (NYSE: USB) + depositary shares of non-cumulative preferred series (fixed coupon) — not a control mechanism, no deduction.
- Dilution
- Shares 1,502.1M (January 2021) → 1,553.7M (January 2026), +3.4% — mostly the 44M shares issued to MUFG for Union Bank (2022, arm's-length M&A); SBC 0.8% of revenue.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- Dividend $1.68 (2020) → $2.04 (2025), no cuts in 2020.
- Lawsuits & regulators
- 2025 10-K: suits against the bank as trustee of RMBS trusts and regulatory examinations; no shareholder disclosure suits and no SEC cases. CFPB (2022) and BSA/AML (2018) penalties are industry matters, no deduction.
- Related parties
- 2026 proxy: a policy is in place; insider loans are on ordinary terms; no material transactions.
How the score works · checked as of Sep 2026
U.S. Bancorp (USB) earnings: FAQ
How does U.S. Bancorp make money?
U.S. Bancorp brought in $7.71 billion of revenue in Q2 2026, up 10.1% year over year. The largest source was Net Interest Income: $4.36 billion, or 57% of the total, followed by Noninterest Income ($3.33B, 43%). Net income for the quarter was $2.18 billion, up 19.9% year over year.
When is USB's next earnings date?
U.S. Bancorp (USB) is scheduled to report on Oct 15, 2026, before market open.
What time does USB report earnings?
U.S. Bancorp is scheduled to report before market open on Oct 15, 2026. Its last results releases were filed before market open, most recently at 6:59 am ET on Jul 16, 2026.
When did USB last report earnings?
U.S. Bancorp reported Q2 2026 results on Jul 16, 2026.
What is the EPS estimate for USB's next earnings?
The consensus EPS forecast is $1.33 (9 analysts), vs $1.22 in the same quarter last year.
Where can I find U.S. Bancorp's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to USB's filings; this page breaks the latest report down in a Sankey chart.
What was USB's net income in Q2 2026?
U.S. Bancorp reported net income of $2,177M for Q2 2026 (+19.9% year over year), under US GAAP.
Does U.S. Bancorp pay dividends?
Yes. In 2025, U.S. Bancorp paid $3,168M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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